europe is basically flat, the u.s. is improving, but it is not exactly galloping and, you know, we are entering probably a weak quarter where people are hoping it will be stronger over the course of the year, china is slowing some and in general all of the emerging markets are slower than they were most of them india has slowed dramatically, brazil is slow, so yes, indeed it is a fragile situation, when the u.s. is one of the bright spots, you know, eking out make two percent growth, one percent growth this quarter you know things aren't very good. >> rose: do you expect to see, speaking of the united states, growth rate getting back close to four percent? >> well, you know, it is in the realm of possibility, but i think the trend growth rate, you know, is going to be more on the order of two and a half and i mean some days some quarters it will be worse than that, some quarters it will be better than that. there are many private forecasters calling for it to be three percent by years end, i think we are doing pretty w